Tenaya Therapeutics (NASDAQ:TNYA) Cut to “Sell” at Wall Street Zen

Tenaya Therapeutics (NASDAQ:TNYA) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities research analysts have also weighed in on TNYA. William Blair restated an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Lifesci Capital upgraded Tenaya Therapeutics to a “strong-buy” rating in a research note on Thursday, March 5th. Leerink Partners restated an “outperform” rating and set a $2.00 price objective on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Finally, Chardan Capital restated a “buy” rating and set a $8.00 price objective on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Tenaya Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Tenaya Therapeutics Price Performance

NASDAQ:TNYA opened at $0.73 on Friday. The firm has a 50-day moving average of $0.77 and a two-hundred day moving average of $0.82. The stock has a market cap of $158.00 million, a P/E ratio of -1.55 and a beta of 2.82. Tenaya Therapeutics has a 1-year low of $0.53 and a 1-year high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). The firm had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $7.50 million. As a group, equities analysts expect that Tenaya Therapeutics will post -0.42 earnings per share for the current year.

Hedge Funds Weigh In On Tenaya Therapeutics

Several large investors have recently modified their holdings of TNYA. Woodline Partners LP lifted its position in shares of Tenaya Therapeutics by 30,563.2% during the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock worth $3,373,000 after purchasing an additional 5,896,873 shares during the last quarter. Empery Asset Management LP bought a new position in shares of Tenaya Therapeutics during the fourth quarter worth about $3,852,000. Anson Funds Management LP bought a new position in shares of Tenaya Therapeutics during the fourth quarter worth about $2,955,000. Alyeska Investment Group L.P. bought a new position in shares of Tenaya Therapeutics during the fourth quarter worth about $2,846,000. Finally, Millennium Management LLC lifted its position in shares of Tenaya Therapeutics by 561.7% during the third quarter. Millennium Management LLC now owns 4,504,592 shares of the company’s stock worth $7,297,000 after purchasing an additional 3,823,848 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics is a clinical‐stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno‐associated virus (AAV) platform, the company aims to deliver durable, one‐time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.